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NPAs linked to Mudra loans extended by banks register a decline The Non-Performing Assets (NPAs) of Public Sector Banks linked to Mudra loans for small and micro enterprises have come down to 3.4 per cent of total loans during the financial year ended March 31, 2024 from 4.89 per cent in 2019-20, Finance Minister Nirmala Sitharaman has informed Parliament.   She said that NPAs of private sector banks linked to Mudra loans declined to 0.95 per cent of total loans in 2023-24 from a peak of 1.77 per cent in 2020-21. Similarly, the NPAs of Regional...
NPAs linked to Mudra loans extended by banks register a decline
NPAs linked to Mudra loans extended by banks register a decline
Source: IANS
2024-08-06 12:08:59 pm
IndusInd Bank records 17% increase in Q3 net profit IndusInd Bank on Thursday reported a 17.3 per cent increase in its standalone net profit at Rs 2,297.8 crore for the October-December quarter of the current financial year on the back of a strong growth in loans. The bank had clocked a net profit of Rs 1,959.2 crore in the same quarter last year. Loans grew by 20 per cent to Rs 3,27,057 crore over the same quarter of the previous year, while deposits recorded a 13 per cent growth. The net interest income for the quarter rose by 18 per c...
IndusInd Bank records 17% increase in Q3 net profit
IndusInd Bank records 17% increase in Q3 net profit
Source: IANS
2024-01-19 10:01:12 am
Fintech unicorn Slice`s losses mount to Rs 405 cr in FY23, revenue up 4X  Fintech unicorn Slice saw its losses surge 59.8 per cent to Rs 405 crore in FY23, compared to Rs 254 crore in FY22, owing to 3 times spike in employee benefits and non-performing assets (NPAs). Slice’s revenue from operations grew over 4 times to Rs 847 crore in FY23 from FY22, according to its financial statements from the Registrar of Companies (RoC). Interest income on the portfolio loans was Rs 472 crore which accounted for 56 per cent of total operating revenue, reports...
Fintech unicorn Slice`s losses mount to Rs 405 cr in FY23, revenue up 4X
Fintech unicorn Slice`s losses mount to Rs 405 cr in FY23, revenue up 4X
Source: IANS
2024-01-10 09:57:47 am
RBI proposes banks with less than 6% net NPAs to declare dividends The Reserve Bank of India (RBI) in the draft guidelines on dividend declaration has proposed allowing banks having net non-performing assets (NPAs) ratio of less than 6 per cent to declare dividends.  As per the prevailing norms last updated in 2005, banks need to have a NNPA ratio of up to 7 per cent to become eligible for declaration of dividends. It said the guidelines have been reviewed in the light of implementation of Basel III standards, the revision of the prompt corrective ac...
RBI proposes banks with less than 6% net NPAs to declare dividends
RBI proposes banks with less than 6% net NPAs to declare dividends
Source: Accord Fintech
2024-01-03 10:32:01 am
SCBs Witness All-Time Low Net Non-Performing Asset Levels By Care Edge Rating Synopsis* Gross Non-Performing Assets (GNPAs) of Scheduled Commercial Banks (SCBs) reduced by 25.6% y-o-y to Rs. 5.32 lakh crore as of June 30, 2023, due to lower slippages, steady recoveries & upgrades and writeoffs. Gross NPAs dropped in Q1FY24, despite a healthy growth of advances of 16.7% y-o-y in the same period. The GNPA ratio of SCBs reduced to 3.7% as of June 30, 2023, from 5.7% over a year ago. * Net Non-Performing Assets (NNPAs) of SCBs reduced by 34.7% y-o-y to Rs. 1.25 lakh...
SCBs Witness All-Time Low Net Non-Performing Asset Levels By Care Edge Rating
SCBs Witness All-Time Low Net Non-Performing Asset Levels By Care Edge Rating
Source: Care Edge Rating
2023-09-26 04:33:33 pm